On May 19, 2022, the U.S. Department of Commerce (Commerce) published a Request for Comment titled “Developing a Framework on Competitiveness of Digital Asset Technologies” (Request for Comment). Digital assets, in this...more
In This Issue. President Biden signed an executive order addressing climate-related financial risks; the Office of the Comptroller of the Currency (OCC) finalized a rule applicable to national banks and federal savings...more
On November 12, 2020, President Donald Trump signed an executive order prohibiting “United States persons” from engaging in “transactions” in securities of “Chinese Communist military companies.” The order marks another...more
The US Secretary of the Treasury announced sanctions this summer on 11 individuals who the Secretary views as being involved in implementing the recently enacted Law of the People’s Republic of China on Safeguarding National...more
President Trump issued an Executive Order on September 21, 2020 which, effective immediately, imposes secondary sanctions on the transfer and sale of certain conventional arms shipments and the supply of related services to...more
On August 8, 2020, the President of the United States issued a Presidential Memorandum directing the Secretary of the Treasury to use his authority pursuant to section 7508A of the Internal Revenue Code to defer the...more
Based on IRS guidance, the deferral is not mandatory. Considering the minimal benefit that the deferral provides to employees, a cost/benefit assessment seems to weigh against offering deferrals. On August 28, the IRS...more
On August 8, 2020, the President issued a Presidential Memorandum directing the Secretary of the Treasury to use his authority to defer withholding, deposit, and payment of certain payroll tax obligations (the “Executive...more
On August 8, 2020, President Trump issued an executive order calling for a deferral of the employees’ portion of the payroll tax (the 6.2% Social Security tax only) from September 1, 2020 through December 31, 2020 (the...more
President Trump issued an executive order on August 8, 2020, providing for the deferral of the employee's portion of Social Security taxes for certain employees for the period beginning September 1, 2020, through December...more
• President Donald Trump has issued an Executive Order expanding the current sanctions relating to Venezuela by blocking all property and interests in property of the government of Venezuela and the Nicolás Maduro regime. ...more
• The U.S. Department of State issued public guidance on sanctions with respect to 39 named entities related to Russia's defense and intelligence sectors. This guidance is issued under Section 231 of the Countering America's...more
On September 21, 2017, the White House announced additional sanctions against North Korea, following a new round of sanctions imposed by the United Nations on September 11 and an escalation of U.S. sanctions previously...more
Based on the President’s executive order 13772 on The Core Principles for Regulating the United States Financial System, the American Bankers Association (ABA) submitted a white paper to Treasury Secretary Mnuchin that...more
Last week, the Trump Administration took initial action toward Dodd-Frank reform. President Trump signed two Presidential actions—one Executive Order regarding the Dodd-Frank Act more broadly, and one Presidential Memorandum...more